The New York Observer

Announcements of large-scale development projects in some of the nation’s cardinal markets are fueling a shared illusion: space is already running tight. Most large metros can boast at least one submarket where supply constraints are choking renewed growth, entreating developers to be munificent. In a very few cases, prices have climbed far enough that developers are responding in kind. Read More

New Yorkers’ restored enthusiasm is spilling out into the streets. Most of the revelers are undoubtedly celebrating our city’s Super Bowl victory. But a small minority—real estate investors among them—is also marking an inflection in the recovery. Read More

Even as measures of business and consumer optimism have improved in the United States, the global economy has struggled to extricate itself from a state of crisis. Fueling current headwinds, Europe’s ongoing condition of political paralysis has meant a lack of progress in addressing the Continent’s ripening sovereign debt crisis. Where progress has been made in adopting austerity plans and deleveraging bank balance sheets, these necessary steps have impinged on near-term growth. The U.S. economy is not impervious to negative developments among our major trading partners, nor is credit availability unaffected by disruptions to the global financial system. In spite of improving economic data, potential spillovers from diverging global growth trends remain ensconced as qualifiers of the domestic outlook. Read More